Summary of Significant Accounting Policies (Tables)

12 Months Ended

Feb. 03, 2018

Estimated Useful Life of Property and Equipment

Depreciation is computed on the straight-line method over the assets’ estimated useful lives as follows:

Furniture and fixtures		Five to ten years
Equipment		Five to ten years
Leasehold improvements		Lesser of useful lives or related lease term
Hardware and software		Three to seven years

Changes in Carrying Value of Intangible Assets

Below is a table showing the changes in the carrying value of the Company’s intangible assets from January 28, 2017 to February 3, 2018:

(in thousands)	January 28, 2017		Additions		Impairment		Amortization			February 3, 2018
"Rochester" trademark	$	1,500	$	—	$	—	$	—		$	1,500
"Casual Male" trademark		599		—		—		(307	)		292
Other intangibles ⁽¹⁾		129		—		—		(100	)		29
Total intangible assets	$	2,228	$	—	$	—	$	(407	)	$	1,821

(1)	Other intangibles consist of customer lists, which have a finite life of 16 years based on its estimated economic useful life. At February 3, 2018, customer lists have a remaining life of 3 months.

Expected Amortization Expense for Casual Male Trademark and Customer Lists

Expected amortization expense for the Company’s “Casual Male” trademark and customer lists, for the next five fiscal years is as follows:

FISCAL YEAR	(in thousands)
2018	$	321
2019		—
2020		—
2021		—
2022		—

Other Comprehensive Income and Reclassifications from AOCI

Other comprehensive income (loss) includes amounts related to foreign currency and pension plans and is reported in the Consolidated Statements of Comprehensive Income (Loss). Other comprehensive income and reclassifications from AOCI for fiscal 2017, fiscal 2016 and fiscal 2015 are as follows:

	Fiscal 2017									Fiscal 2016									Fiscal 2015
(in thousands)
	Pension Plans			Foreign Currency			Total			Pension Plans			Foreign Currency			Total			Pension Plans			Foreign Currency			Total
Balance at beginning of fiscal year	$	(5,237	)	$	(781	)	$	(6,018	)	$	(6,113	)	$	(539	)	$	(6,652	)	$	(7,795	)	$	(443	)	$	(8,238	)

Other comprehensive income (loss) before reclassifications, net of taxes		820			393			1,213			171			(242	)		(71	)		1,035			(96	)		939

Amounts reclassified from accumulated other comprehensive income (loss), net of taxes ⁽¹⁾		670			—			670			705			—			705			647			—			647

Other comprehensive income (loss) for the period		1,490			393			1,883			876			(242	)		634			1,682			(96	)		1,586

Adjustment to reclassify intraperiod tax allocation to accumulated deficit (Note D)		(2,093	)		(15	)		(2,108	)		—			—			—			—			—			—

Balance at end of fiscal year	$	(5,840	)	$	(403	)	$	(6,243	)	$	(5,237	)	$	(781	)	$	(6,018	)	$	(6,113	)	$	(539	)	$	(6,652	)

(1)

Includes the amortization of the unrecognized (gain)/loss on pension plans which was charged to Selling, General and Administrative expense on the Consolidated Statements of Operations for all periods presented. The amortization of the unrecognized loss, before tax, was $670,000, $705,000 and $647,000 for fiscal 2017, fiscal 2016 and fiscal 2015, respectively. There was no corresponding tax benefit.

Reconciliation of Number of Shares Outstanding for Basic and Diluted Earnings Per Share

The following table provides a reconciliation of the number of shares outstanding for basic and diluted earnings per share:

	FISCAL YEARS ENDED
	February 3, 2018		January 28, 2017		January 30, 2016
(in thousands)
Common stock outstanding:
Basic weighted average common shares outstanding		48,888		49,544		49,089
Common stock equivalents – stock options, restricted stock and restricted stock units (RSUs) ⁽¹⁾		—		—		—
Diluted weighted average common shares outstanding		48,888		49,544		49,089

(1)	Common stock equivalents, in thousands, of 134 shares, 439 shares and 583 shares for February 3, 2018, January 28, 2017 and January 30, 2016, respectively, were excluded due to the net loss.

Potential Common Stock Equivalents Excluded from Computation of Diluted Earnings Per Share

The following potential common stock equivalents were excluded from the computation of diluted earnings per share in each year because the exercise price of such options was greater than the average market price per share of common stock for the respective periods or because the unearned compensation associated with either stock options, RSUs, restricted or deferred stock had an anti-dilutive effect.

	FISCAL YEARS ENDED
	February 3, 2018		January 28, 2017		January 30, 2016
(in thousands, except exercise prices)
Stock options (time-vested)		1,196		1,162		1,244
RSUs (time-vested)		732		370		—
Restricted and deferred stock		63		8		22
Range of exercise prices of such options	$1.85-$7.52		$4.49-$7.52		$4.96-$7.52

Valuation Assumptions for Stock Options

The fair value of each option grant is estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions used for grants in fiscal 2017, 2016 and 2015:

Fiscal years ended:	February 3, 2018		January 28, 2017		January 30, 2016
Expected volatility	49.9%		39.3%-42.7%		37.0%-39.0%
Risk-free interest rate	1.44%		0.78%-1.23%		0.75%-1.25%
Expected life (in years)	3.0		2.0		1.8-4.0
Dividend rate		—		—		—
Weighted average fair value of options granted	$	0.65	$1.02		$1.44